Trial Balance - Period

The Period(Monthly) Trial Balance reads the year to date values in the Company Chart of Accounts for the beginning balance and the Transaction file for this month’s transactions.

Select Financials - Company - Trial Balance (Period)

Only transaction dates within the range of the specified beginning and ending dates are used for the report. For example, if you specified a beginning date of 12/01/2005 and an ending date of 12/31/2005, only transactions entered on or after 12/01/2005 and on or before 12/31/2005 would be used.

The Monthly Trial Balance should balance to zero, and the period totals for Accounts Receivable and Accounts Payable should be the same as the period totals for their respective Posting Registers (when using the same beginning and ending date). Do not close the month, until these totals agree. No files are updated when printing this report! If the period totals do not agree, see FAQ - Period Close for info.

The complete Monthly Trial Balance is normally printed during Period Close procedures. Do not close the period until you have checked all reports against the Trial Balance. Reports such as Accounts Receivable and Accounts Payable Inquiry, Non-Released Suspense Summary and Minimum Withhold Summary and Prepayment reports should always agree with the general ledger numbers on the Trial balance. The Trial Balance filter includes options for source type, source number, and unit number for additional detail.

You may enter the beginning and ending general ledger number 11300, Accounts Receivable, to verify ending balance agrees with the company total of the Accounts Receivable Inquiry report. Also enter the beginning and ending general ledger number 21000, Accounts Payable, and verify ending balance with the company total of the Accounts Payable Inquiry report. These totals should be checked prior to closing the period. You can print the report for totals only so that you can see the balance without seeing all of the detail. This will save you a lot of time and paper. If you do want a list of all the detail make sure to print the detailed Trial Balance.